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You use a computer in your self-employed (Schedule C) business. The computer is 3 years...

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Accounting

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You use a computer in your self-employed (Schedule C) business. The computer is 3 years old, and you decide to upgrade the graphics card at a cost of $550. In your line of business, this is considered necessary and ordinary. The cost is reasonable. On your taxes, you included a business deduction of $550. Is this tax treatment correct? Yes, taking a $550 deduction is correct. No, taking a $550 deduction is incorrect

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